{"data":{"id":"us-ky/krs-271b.11-060","jurisdiction":"us-ky","citation":"KRS 271B.11-060","heading":"Effect of merger or share exchange.","body":"(1) When a merger takes effect:\n(a) Every other corporation party to the merger shall merge into the surviving\ncorporation and the separate existence of every corporation, except the\nsurviving corporation, shall cease;\n(b) The title to all property, whether real, personal, or intangible,  owned by each\ncorporation party to the merger shall be vested in the surviving corporation\nwithout reversion or impairment;\n(c) The surviving corporation shall have all liabilities of each corporation party to\nthe merger;\n(d) A proceeding pending against any corporation party to the merger may be\ncontinued as if the merger did not occur or the surviving corporation may be\nsubstituted in the proceeding for the corporation whose existence ceased;\n(e) The articles of incorporation of the surviving corporation  shall be amended to\nthe extent provided in the articles of merger; and\n(f) The shares of each corporation party to the merger that are to be converted\ninto shares, obligations, or other securities of the surviving or any other\ncorporation or into cash or other property shall be converted, and the former\nholders of the shares shall be entitled only to the rights provided in the articles\nof merger or to their rights under Subtitle 13.\n(2) When a share exchange takes effect, the shares of each acquired corporation shall be\nexchanged as provided in the articles of share exchange, and the former holders of\nthe shares shall be entitled only to the exchange rights provided in the articles of\nshare exchange or to their rights under Subtitle 13.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44323","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:19Z","sha256":"503c655f35c32406967fde7ae0ee845d508f810e6a49685a8b0ebf9f81c2f24a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.11-050","next":"us-ky/krs-271b.11-070"},"notice":"GroundRules: Original legal text. Not legal advice."}